- Imported manganese ore market softens as inventory-led buying fades
- Weak global buying interest likely to limit upside in export prices
Indian silico manganese export prices extended their downtrend for another week, pressured by declining imported manganese ore prices and subdued export trading activity. While a few bulk inquiries were reported, buyers and sellers remained apart on price expectations, delaying deal closures and keeping downward pressure on offers. Additionally, some exporters lowered offers to liquidate inventories ahead of month-end, while the ongoing monsoon season continued to dampen domestic production and trading activity.
As per BigMint assessment, 65-16 grade prices inched down by $2/t w-o-w to $913/t FOB, while 60-14 grade fell by $8/t to $813/t FOB Haldia/Vizag.
“Demand is very weak as overseas bids are in the range of $900-910/t FoB for SiMn 65-16”, cited a trader.
Market overview
Imported manganese ore prices edge lower: Imported manganese ore prices remained under pressure in this week, as subdued procurement by Indian smelters continued to weigh on the market. Most alloy producers maintained comfortable inventory levels, reducing the need for fresh purchases. Additionally, the recent correction in domestic manganese ore prices narrowed the cost competitiveness of imported cargoes, further dampening buying interest. Consequently, overseas suppliers faced weaker demand, keeping imported ore prices on a downward trajectory.
- Australian high-grade ore (Mn 46%) declined by $0.10/dmtu w-o-w to $5.35/dmtu CNF Haldia/Vizag.
- Gabonese high-grade ore (Mn 44%) eased by $0.07/dmtu w-o-w to $5.10/dmtu CNF Haldia/Vizag.
- South African lumps (Mn 37%) slipped by $0.01/dmtu w-o-w to $4.60/dmtu CNF Haldia/Vizag.
Stable China silico manganese market keeps Indian exporters cautious: Chinese silico manganese prices remained stable in the week ended 20 July 2026, with Mn 65%, Si 17% at RMB 5,570-5,830/t ($822-861/t) ex-works and Mn 60%, Si 14% at RMB 5,310-5,430/t ($784-802/t) ex-works. The market was supported by production cuts and firm manganese ore costs, but weak steel demand, lower July mill tenders, and need-based procurement kept trading subdued. The stable Chinese market is expected to provide limited support to Indian silico manganese exports, as subdued steel demand and cautious buying continue to constrain export opportunities.
Outlook
Indian silico manganese export prices are likely to remain slightly weak in the near term due to subdued export demand and softer imported manganese ore prices, although firm production costs and monsoon-led supply constraints should limit further downside.
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